2.7 Million Job Losses after Stimulus Bill
Do you remember the stimulus bill that was supposed to create jobs and help the economy recover? It predicted 3.5 million jobs would be created.
In fact, however 49 states have lost jobs since the bill, for a grand total of 2.7 million jobs lost. On the bright side, North Dakota gained 1,800 jobs. This makes a difference of 6.2 million jobs between what was predicted and what was lost. See for yourself here.
Peter Schiff, an economist now running for Senate, had predicted that the stimulus bill would not just fail, but dig a deeper hole. He made this prediction earlier this year.
However, we keep hearing that the economy is improving. In fact, as of now, an American Research Group survey shows that 31% of Americans think the economy is getting better and 48% say it will be better a year from now.
But the truth is that the economy is in fact going downhill, no matter what we hear on the news. We can’t keep spending like we are and expect this crisis to just disappear. And with a national debt of almost 12 trillion dollars, we are not even close to seeing the light at the end of the tunnel. We won’t be out of this crisis in a year. I doubt we will be out of the crisis by the time we elect a new president. We may never get out of this crisis.